MergerPlace

Specialty Italian Deli

Washington (King)


  • Asking Price: $99,000
  • Gross Income: $117,268
  • Cash Flow: $28,650
  • Real Estate: Not Disclosed
  • Inventory: $2,500
  • FF&E: $5,000
  • Listing ID: #212368
  • Established: 2011
  • Employees: 3 PT

Business Description

This is an opportunity to own a highly popular specialty Italian deli serving many different flavors of authentic Italian style pastries, as well as Italian salads and sandwiches and espresso drinks. This specialty fast-casual restaurant is located in a newer mixed-use commercial building located within close walking distance to popular Puget Sound tourist attractions, with high foot traffic and great street visibility. This cozy deli offers customers dine in or take-out orders, as well as the now popular online food delivery service. The lease is very attractive and low for the location.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Washington
County: King

Company Information

Year Established: 2011
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 3 PT

Financial Information

Asking Price: $99,000
Gross Revenue: $117,268
Cash Flow: $28,650
FF&E: $5,000
Inventory: $2,500
Seller Financing Available: No

Property Information

Facilities:

This 400 sq ft fun, industrial, city space is located in a mixed-use commercial building, walking distance from many popular Puget Sound attractions. The business comes turnkey with $5,000 in furniture and equipment as well as $3,500 in leasehold improvements and $2,500 inventory. The current lease is very low for the area at $1,000 per month and expires February 2022; the landlord is open to renewal options. The business is relocatable. There are no known environmental liabilities.

Growth & expansion opportunities:

Currently, the owner makes these Italian treats but suggests that purchasing the product from a supplier which will be a significant time and cost savings reducing the costs of goods sold. The current hours start at 10am as a preference of the owner. However, opening at 6am to capture all the customers going to work coffee and snack business would definitely boost revenues right away. There is definitely room to expand marketing efforts to increase exposure to social media advertising and print advertisements including promotions. Subscribing to additional online delivery service platforms, collaboration with cruise lines, the local tourist organizations and Seattle Chamber of Commerce would increase exposure as well.

Competition:

This is the only Italian specialty deli in the area. There is no competition for this Italian sweet treat anywhere in the area, so customers who enjoy these real Italian specialties keep coming back and the business has a strong repeat customer base. Advertising through their online delivery platform has been successful in expanding their repeat customer base. When it comes to restaurants, fast casual has been the growth darling of the industry for almost 20 years. While it still accounts for less than 10% of the total market, the number and diversity of fast-casual restaurants has been exploding across the country, with growth of over 500% since 1999. Evolving consumer tastes and creative restaurant concepts are the driving forces behind this growth. Increasingly consumers are looking for healthy alternatives and are more dynamic in their tastes - they’re looking for more than the typical burger and fries. But what has not changed is the need for speed and convenience when it comes to grabbing a bite, particularly during the business day. Strategically located right next to four major Seattle tourist attractions, the business attracts many tourists who would like to grab a tasty bite to eat and continue their tour in the heart of Seattle. High ratings in the popular TripAdvisor and Yelp directories draw tourists from all over the world to delight in these authentic Italian treats. Nearly 40 million visitors came to the city and county last year, according to a recent report from Visit Seattle, the 1,000-member nonprofit tourism marketing organization. That’s up 2.6 percent from the previous year and marks the eighth straight year setting a record. Overnight visitors grew by 3.9 percent to nearly 21 million. The Seattle Times reports in an April, 2018 article Seattle will be the largest cruise port on the West Coast for the second year in a row. The Port of Seattle projects more than 1.1 million cruise passengers this year, ahead of last year’s record, spending money in town before and after their voyages. Tourists in the U.S. are spending more at restaurants than ever before. The National Restaurant Association reported in 2018 that tourism spending at restaurants in the U.S. is at an all-time high, with 15% of sales at quick serves stemming from tourist spending. Dessert trends are changing too. Data from LevelUp reveals the most popular time for ordering desserts is now between 2-4 p.m. Offering innovative flavors is one way to capture the sweet tooth of the snacker. Flavor inspiration is coming from global and regional comfort foods. In the last few years, shareables and samplers are becoming more popular according to Technomic's Dessert Consumer Trend Report. Consumers are slowly shifting away from viewing dessert as a post-meal course and increasingly defining it as an anytime occasion.

Reason for selling:

Owner is relocating.

Support & Training:

Will train for 2 weeks @ $0 cost. Washington and Seattle business licenses would be required. Food handler license is required to operate this business.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Claudia Smith

Murphy Business Brokers